First Home Saver Accounts (Consequential Amendments) Act 2008 (45 of 2008)

Schedule 1   Main taxation related amendments

Income Tax Assessment Act 1997

24   After section 295-170

Insert:

295-171 Exception - payments from FHSAs and Government FHSA contributions

Item 1 of the table in section 295-160 does not include in assessable income a contribution that is:

(a) a payment from an *FHSA required under section 22 or 34 of the First Home Saver Accounts Act 2008; or

(b) a *Government FHSA contribution.